Pictet Asset Management Holding SA Has $11.42 Million Stock Position in Guardant Health, Inc. $GH

Pictet Asset Management Holding SA cut its stake in Guardant Health, Inc. (NASDAQ:GH) by 21.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,141 shares of the company’s stock after selling 35,243 shares during the period. Pictet Asset Management Holding SA owned about 0.10% of Guardant Health worth $11,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP grew its position in Guardant Health by 19.5% in the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after acquiring an additional 138 shares during the period. Eastern Bank lifted its holdings in shares of Guardant Health by 6.9% during the fourth quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after acquiring an additional 139 shares during the period. Xponance LLC lifted its holdings in shares of Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after acquiring an additional 199 shares during the period. Danske Bank A S lifted its holdings in shares of Guardant Health by 20.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the company’s stock valued at $123,000 after acquiring an additional 200 shares during the period. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna boosted its stake in shares of Guardant Health by 1.9% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 11,000 shares of the company’s stock valued at $1,124,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Insider Activity

In other Guardant Health news, Director Myrtle S. Potter sold 1,556 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the sale, the director owned 20,971 shares in the company, valued at approximately $2,750,556.36. The trade was a 6.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Brian Bell sold 2,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $128.62, for a total value of $257,240.00. Following the completion of the transaction, the chief financial officer directly owned 47,509 shares in the company, valued at approximately $6,110,607.58. This trade represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 712,513 shares of company stock worth $90,921,587. Corporate insiders own 5.60% of the company’s stock.

Guardant Health Price Performance

GH opened at $167.98 on Friday. The firm has a 50 day simple moving average of $118.33 and a 200 day simple moving average of $105.66. Guardant Health, Inc. has a fifty-two week low of $40.35 and a fifty-two week high of $172.60. The company has a market cap of $22.27 billion, a price-to-earnings ratio of -49.55 and a beta of 1.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GH shares. Royal Bank Of Canada assumed coverage on shares of Guardant Health in a research report on Thursday, June 11th. They set an “outperform” rating and a $185.00 target price for the company. Barclays upped their price objective on shares of Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. TD Cowen reiterated a “buy” rating on shares of Guardant Health in a research note on Thursday. Evercore raised Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price on the stock in a report on Tuesday, June 2nd. Finally, UBS Group set a $150.00 price target on Guardant Health in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.32.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.